https://www.taxtmi.com/caselaws?id=246811 The Tribunal set aside the matter to the file of the CIT(A) for a detailed analysis of whether the loan was given in the ordinary course of business and constituted a substantial activity for the lending company. The Tribunal directed the CIT(A) to obtain and review the details of the subsidiary company to make a more informed decision. The assessee was granted a reasonable opportunity for a hearing in this regard. The appeal filed by the assessee was treated as allowed for statistical purposes, emphasizing the need for a thorough assessment of the business activities involved in such transactions. en-us Wed, 26 Mar 2014 00:00:00 +0530 Wed, 23 Apr 2014 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246811 The Tribunal set aside the matter to the file of the CIT(A) for a detailed analysis of whether the loan was given in the ordinary course of business and constituted a substantial activity for the lending company. The Tribunal directed the CIT(A) to obtain and review the details of the subsidiary company to make a more informed decision. The assessee was granted a reasonable opportunity for a hearing in this regard. The appeal filed by the assessee was treated as allowed for statistical purposes, emphasizing the need for a thorough assessment of the business activities involved in such transactions. Case-Laws Income Tax Wed, 26 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246811